Willis-Towers Watson: A Merger of Equals--Not Exactly

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Liz Hoffman And Juliet Samuel When Willis Group Holdings PLC and Towers Watson & Co. announced plans to form an $18 billion global professional-services firm, they billed it as a merger of equals. But their investors don't see it ...

Greece Defaults on IMF Loan -- 7th Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gabriele Steinhauser and Viktoria Dendrinou in Brussels and Nektaria Stamouli in Athens Greece became the first developed country to default on the International Monetary Fund, as the rescue program that has sustained it for five years expired and its ...

Willis-Towers Watson: A Merger of Equals--Not Exactly

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Liz Hoffman and Juliet Samuel When Willis Group Holdings PLC and Towers Watson & Co. announced plans to form an $18 billion global professional-services firm, they billed it as a merger of equals. But their investors don't see it ...

Asian Shares Hold Steady After Greece Defaults--Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gregor Stuart Hunter HONG KONG--China's markets were roughly flat Wednesday as investors took stock of a choppy period of trading over the past two weeks that has rolled back some of the gains from a yearlong bull market. Global ...

China's Economy Signals More Weakness -- Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

BEIJING--China's economy showed signs of flagging in June, with gauges of factory activity missing market expectations and suggesting weakening momentum in the world's second-largest economy. Economists said more stimulus policies, especially fiscal measures such as more tax breaks and infrastructure ...

South Africa Raises Cash for Ailing State Utility

TODAY: July 1, 2015 PUB DATE: July 1, 2015

JOHANNESBURG?South Africa's government has sold its 14% stake in mobile operator Vodacom Group Ltd., raising around $2 billion in cash to help refinance the country's beleaguered state-owned power provider. South Africa's Finance Ministry said on Wednesday that the shares were ...

China Jun Official Manufacturing PMI 50.2 Vs 50.4 Market Expectation

TODAY: July 1, 2015 PUB DATE: July 1, 2015

BEIJING--China's official manufacturing purchasing managers index was flat at 50.2 in June compared with a month ago, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, said in a statement Wednesday. The ...

Singapore Private Residential Property Prices Index Falls 0.9% On-Quarter in 2Q

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gaurav Raghuvanshi SINGAPORE--Singapore's private property prices fell for the seventh consecutive quarter in the April-to-June period, according to early estimates released Wednesday by the nation's Urban Redevelopment Authority. The overall private residential property index fell by 0.9% on quarter, ...

South Korea June Nikkei PMI Falls in May

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Kwanwoo Jun SEOUL--South Korea's manufacturing activity contracted for a fourth consecutive month in June and fell to a three-year low, a private survey showed Wednesday. The Nikkei Purchasing Managers' Index came in at a seasonally adjusted 46.1 in June, ...

Italy's Budget Deficit to GDP Narrows in First Quarter

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Liam Moloney ROME--Italy's public budget deficit narrowed in the first quarter of the year to 5.6% of gross domestic product from 6.0% in the same period the year before, the country's national statistical agency Istat said on Wednesday. In ...

Bank of England Warns Greece Threatens Financial Stability

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Jason Douglas and Jon Sindreu LONDON--The Bank of England on Wednesday said the outlook for financial stability in the U.K. has worsened in recent days as the crisis in Greece intensifies. The BOE said in its twice-yearly Financial Stability ...

CF Industries to Buy Remaining Stake In GrowHow from Yara

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Lisa Beilfuss CF Industries Holdings Inc. has agreed to acquire the remaining stake in GrowHow UK Ltd., making the British fertilizer company a wholly owned subsidiary. Chicago-based CF will buy the 50% stake from Norway's Yara International ASA for ...

Germany's Merkel: Europe Must Not Seek Compromise At Any Cost

TODAY: July 1, 2015 PUB DATE: July 1, 2015

BERLIN--German Chancellor Angela Merkel on Wednesday reacted coldly to Athens' latest attempt to find a bailout deal with its international creditors, emphasizing that Berlin doesn't fear a battle and would only support a compromise with Greece if advantages outweigh disadvantages. ...

Greece Defaults on IMF Loan -- 5th Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Viktoria Dendrinou, Nektaria Stamouli and Gabriele Steinhauser Greece became the first advanced economy to default on loans from the International Monetary Fund on Tuesday, after European finance chiefs shut down Athens's last-minute request for emergency financial aid. The Greek ...

Emerson Electric to Spin Off Network Power -- 2nd Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Bob Tita Emerson Electric Co. plans to carve off its network-power business and about $5 billion in annual sales, in a move that reflects increasing challenges for suppliers of equipment and services to the computer-server centers powering the Internet. ...

Sysco Ends Plans to Merge With US Foods -- 2nd Update

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Annie Gasparro Sysco Corp. abandoned its planned acquisition of rival US Foods Inc. following a federal judge's ruling against the deal, forcing the food-distribution giant to find a new strategy for its future that is likely to include smaller ...

Asian Shares Hold Steady After Greece Defaults

TODAY: July 1, 2015 PUB DATE: July 1, 2015

By Gregor Stuart Hunter Asian markets held steady early Wednesday, as investors appear to take in stride Greece's missed loan payment and await a raft of factory data from across the region. Global markets stabilized even as Greece ended up ...